AngelList crowdfunding platform and Product Hunt platform create a single ecosystem for IT startups

AngelList bought a platform for publishing information about IT startups Product Hunt. In AngelList noted that now the services will work together. This will allow technology companies to more effectively attract funds, find new employees and launch their projects.



Re / code experts estimate the amount of the transaction at $ 20 million. At the same time, they note that the assessment of the company Product Hunt has not changed since the end of 2014. However, the participants in the transaction themselves have not yet disclosed information about the amount.

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“AngelList was created to help technology companies change the world. More than 300 thousand companies and 5 million individuals use our network to raise funds and find employees. [In total] they raised $ 500 million and met 325 thousand applicants, ”the company said.



According to rumors, Product Hunt should have raised a new round of funding over the past few months. However, company founder Ryan Hoover told Techcrunch that the plans had changed, and the deal with AngelList was the best scenario.



“It was a very important step. We met Nabal [Nawal Ravikan - co-founder and CEO of AngelList] and his team and asked if he was going to close us after the takeover. But Nabal made it very clear that he is simply investing in what we are doing, because he believes in the prospects of our project, ”Hoover commented . Product Hunt will operate as an independent unit.



“We are already helping the founders to attract funds and look for talented personnel. With Product Hunt, we can help them launch products and find their first customers at an early stage of development. This is very well aligned with our mission to support startups, ”said Naval Ravikan, co-founder and CEO of AngelList.



Product Hunt was founded in 2013. For three years, the service has become one of the world's largest platforms for publishing information about start-ups: more than 50 thousand projects were published on Product Hunt. Product Hunt is used by many companies from Silicon Valley and New York.







In an interview with Techcrunch, Hoover talked about the prerequisites for the project:

My friends and businessmen from Silicon Valley often talked about new products, and during these conversations the phrase “Did you see an interesting project start up?” Was constantly heard. In the Valley, such things are discussed in the offices of the cooler, but there was no platform for such conversations about new products in the network.